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USD/CHF remains under pressure for the second consecutive day, hovering around 0.8960 during Tuesday's Asian session. The pair may decline further as the safe-haven Swiss Franc (CHF) strengthens amid escalating risk-off sentiment driven by growing concerns over a global tariff war. On Monday, the White House confirmed that President Trump signed an order raising tariffs on Chinese imports to 20%, while similar measures for Mexico and Canada are still pending. Trump also reiterated that reciprocal tariffs will take effect on April 2 for countries imposing duties on US goods. In response,...
Gold steadied around $2,880 per ounce on Tuesday, with investors assessing the economic outlook as U.S. President Donald Trump prepares to impose tariffs on key trade partners. On Monday, Trump confirmed that 25% tariffs on imports from Mexico and Canada would start later today, along with a doubling of China levies to 20%.He also reiterated that reciprocal tariffs would take effect on April 2 on countries that impose duties on U.S. products. These reignited fears of a global trade war that already showed signs of rising inflation and slowing economic growth — both of which support gold's...
The Japanese Yen (JPY) attracts some follow-through buying for the second straight day on Tuesday and moves back closer to a multi-month peak touched against its American counterpart last week. The hawkish sentiment surrounding the Bank of Japan's (BoJ) policy outlook continues to underpin the JPY. Moreover, concerns about the potential economic fallout from US President Donald Trump's tariff policies temper investors' appetite for riskier assets and further benefit the safe-haven JPY. Adding to this, Trump's threat to Japan over currency depreciation, along with subdued US Dollar (USD)...
The dollar index remained around 106.5 on Tuesday, after losing nearly 1% in the previous session, pressured by a strengthening euro and sterling amid growing hopes for a Ukraine peace deal. European leaders, led by the UK and France, pledged increased fiscal spending and announced plans to present a Ukraine peace proposal to the US. Concerns about the US economy and expectations of further interest rate cuts by the Federal Reserve also weighed on the dollar. The latest ISM report showed that US manufacturing slowed more than expected in February, driven by easing demand, slower production,...
EUR/USD continues its upward momentum for the second consecutive session, trading around 1.0490 during Asian hours on Tuesday. The Euro (EUR) is benefiting from improved market sentiment as hopes for a potential Ukraine peace deal reduce demand for safe-haven assets. European leaders, alongside Ukrainian President Volodymyr Zelenskyy and UK Prime Minister Keir Starmer, have agreed to draft a structured peace plan to be presented to the United States (US), bolstering risk appetite. According to Bloomberg, citing a defense official on Monday, the United States has halted all ongoing military...
U.S. President Donald Trump announced Monday evening on Truth Social that Israel and Iran have agreed to a "Complete and Total CEASEFIRE" following what he referred to as "THE 12 DAY...
Gold moved above $2600 on Monday during the Asian trading session. Currently, Gold is still struggling to capitalize on last week's modest recovery from a one-month low and is fluctuating.
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